Trading on the Forex requires a Margin Account. You are
committing to trade and take positions today.
As a speculator trader you will not be taking delivery on
the product that you are trading. As a Stock Day
Trader, you would only hold a trading position for a few
minutes, up to a few hours, and then you would
need to close out your position by the end of the trading
session.
All orders must be placed through a broker. To trade stocks
you would need a stockbroker. To trade
currencies you will need a Forex currency broker. Most
brokerage firms have different margin
requirements. You need to ask them their margin requirements
to trade currencies.
A Margin Account is nothing more than a performance bond.
All traders need a Margin Account to
trade. All accounts are settled daily. When you gain
profits, they place your profits into your Margin
Account that same day. When you lose money, an account is
needed to take out the losses you incurred
that day.
A very important part of trading is taking out some of your
winnings or profits. When the time comes to
take out your personal gains from your margin account, all
you need to do is contact your broker and
ask them to send you your requested dollar amount. They will
send you a check or wire transfer your
money.
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